General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsReport: J.C. Penney CEO Ron Johnson is out; Ullman coming back
CNBC is quoting sources saying that J.C. Penney CEO Ron Johnson is out. Johnson joined Penney from Apple Inc. in 2011 with a mandate to transform the store.
Penney shares rose almost 6 percent in after-hours trading. Former CEO Myron Mike Ullman is coming back, according to a press release from Penney.
Johnsons personal currency devalued a bunch last week.
Former Penney CEO Allen Questrom said Friday he toured Penneys prototype store in Dallas with Johnson and while he liked the shops, he still believed the new pricing and merchandise strategies should have been tested. Asked in an interview last week if he would rejoin Penney as a board member, Questrom said no.
More at http://bizbeatblog.dallasnews.com/2013/04/report-j-c-penney-ceo-ron-johnson-is-out.html/ .
tanyev
(42,360 posts)Pre-Ron that place was hopping every time I went there. Post-Ron it's been a deserted wasteland.
a kennedy
(29,467 posts)kinda like the revolving door of NCAA/NFL/NBA coaches and MLB managers....always get some other company (team's) loser coach/manager.